Between 1-31 January, account holders in North Carolina wagered $686,922,931 on sporting events, including paid and promotional wagers. From those wagers, account holders won $603,006,218.
State law levies an 18 percent tax on the gross wagering revenue generated by sports wagering activity. Gross wagering revenue is a total of amounts received from sports wagers less the amounts paid as winnings before any deductions for expenses, fees, or taxes.
In January, the gross wagering revenue for the state’s licensed interactive sports wagering operators totaled $80,338,762. After the 18 percent tax rate is applied, the estimated tax proceeds for the month would be $14,460,977. This is the projected amount that the N.C. Department of Revenue will collect from sports wagering operators.
